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Your PLP government has long acknowledged that we're in the midst of an international economic crisis from which Bermuda is not immune. Through no fault of Bermuda or our political leaders, we're in the midst of a global economic crisis that we take very seriously. International trends have and will continue to impact our local economy, but, you can rest assured knowing that the PLP government is implementing policies that will see our economy through these rough waters.

The PLP government is especially mindful of protecting the two pillars of our economy - international business and tourism - while also diversifying our island's economy through commitments to bringing innovators in health and telecommunications to our island.

Premier Brown's platinum period revitalisation of our tourism industry is resulting in improvements to properties across the island. The platinum period is manifested in comprehensive upgrades at the Fairmont Hamilton Princess, the recently opened hotel at Newstead, the new hotel

at Tucker's Point and the crown jewel of them all, the new Park Hyatt development in St. George's.

These new and revitalised high end properties are creating jobs at all levels, spurring our construction industry and helping Bermuda to attract even more discerning tourists with plenty of disposable income to invest in our economy.

On the international business front, your PLP government is working closely with our private sector partners to protect our business interests and ensure that Bermuda remains an attractive place to do business.

The PLP government's free Bermuda College programme, our commitment to free early childhood education and our bipartisan commitment to improving education plays an important role in ensuring our future

competitiveness. We will continue to work across party lines to improve our system of education as we're doing with our new education committee.

Strong ties with Congress

In light of the recent U.S. presidential campaign ad targeting Bermuda, we remain as vigilant as ever about our relations with Washington.

Premier Brown and Minister Cox have strong ties with scores of members of Congress and the American administration and those ties were reinforced during the Premier's recent trip to Washington. We will continue to educate American leaders about the important role Bermuda plays in providing low cost insurance for their citizens.

Keeping Bermuda safe also plays an important role in attracting international business. In August, Premier Brown announced a comprehensive anti-crime package and we're already delivering. We're expanding the Mirrors programme, we put nearly 50 new police on the street, we have a new Deputy Police Commissioner, we've formed a Clergy Against Crime committee to involve our partners in the faith community

and Attorney General Kim Wilson has made progress on reforming our parental responsibility laws.

Bermuda has a good reputation as a safe place for people to do business and we're working to maintain that reputation.

These are tough economic times, make no mistake about it, but, Minister Paula Cox is ensuring that our regulatory environment remains stable and welcoming. In the face of much adversity, Bermuda's produced some good

economic news over the last few months:

n Signet Group, the world's largest jewellery-store owner, announced its relocation to Bermuda;

n Developers are continuing to invest in our island. Most notably, The North East Hamilton Economic Empowerment Zone is spurring scores of developments that will revitalise the area;

n Bermuda's productivity remains significantly higher than

competitors including the U.S., the U.K. and Canada - a fact that will help us remain competitive in the international business market;

n Our insurance industry continues to profit to the tune of billions

of dollars, in spite of the downturn.

Your PLP government is getting the job done. We have a strong debt management record and we've instituted flexible but fair immigration policies that provide opportunity for Bermudian workers while ensuring that business thrives. We've restructured the payroll tax to facilitate

entrepreneurship and we've used duty deferments to provide relief for retailers, hotels and restaurants. These are all important steps we're taking to ensure Bermuda weathers the economic storm.

But, don't just take our word for it that we're getting the job done - take it from Bradley Kading, the president of the Association of Bermuda Insurers and Reinsurers, who said, "While the AIG crisis and others pose challenges, Bermuda's internal financial institutions are in good

position to deal with these."

Or, take it from the well respected Fitch Ratings who gave us an AA+ bond rating and said that "The ratings reflect Bermuda's strong offshore international financial centre underpinned by a proven track record of effective management of the economy and business environment."

For decades, the UBP has been trying to scare Bermudians into believing that the PLP is incapable of handling the economy. And, they haven't changed their tune.

Even after a decade in government, shepherding our economy through the blows of September 11 and Hurricane Fabian, UBP fearmongers continue to try and convince you of the great lie that a PLP government will mean "lights out" for Bermuda's international business sector.

For over a decade, we've proven the fearmongers wrong time and time again - and we're proving them wrong once again.

David Burt is the chairman of the PLP.[[In-content Ad]]

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